Insider Buying: Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) Insider Purchases 4,000 Shares of Stock

Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) insider David P. Hochman purchased 4,000 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The stock was purchased at an average price of $4.66 per share, with a total value of $18,640.00. Following the completion of the purchase, the insider now directly owns 579,498 shares of the company’s stock, valued at approximately $2,700,460.68. This represents a 0.70 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available through the SEC website.

Orchestra BioMed Stock Down 7.8 %

Shares of OBIO stock opened at $4.40 on Friday. The company has a market cap of $167.26 million, a P/E ratio of -2.73 and a beta of 0.44. The business has a 50 day moving average of $5.49 and a two-hundred day moving average of $6.11. Orchestra BioMed Holdings, Inc. has a 52 week low of $4.22 and a 52 week high of $10.06.

Orchestra BioMed (NASDAQ:OBIO) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.41) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.03. Orchestra BioMed had a negative return on equity of 107.04% and a negative net margin of 2,179.33%. The business had revenue of $0.99 million during the quarter, compared to analyst estimates of $0.81 million. Analysts expect that Orchestra BioMed Holdings, Inc. will post -1.66 EPS for the current fiscal year.

Hedge Funds Weigh In On Orchestra BioMed

Hedge funds and other institutional investors have recently modified their holdings of the company. SG Americas Securities LLC bought a new stake in Orchestra BioMed in the 3rd quarter valued at about $52,000. ABLE Financial Group LLC acquired a new stake in shares of Orchestra BioMed in the third quarter valued at approximately $69,000. SkyView Investment Advisors LLC bought a new stake in shares of Orchestra BioMed during the second quarter valued at approximately $163,000. Rhumbline Advisers boosted its position in shares of Orchestra BioMed by 192.7% during the second quarter. Rhumbline Advisers now owns 26,439 shares of the company’s stock worth $215,000 after buying an additional 17,405 shares during the period. Finally, Barclays PLC grew its holdings in Orchestra BioMed by 281.3% in the 3rd quarter. Barclays PLC now owns 31,785 shares of the company’s stock worth $163,000 after buying an additional 23,448 shares in the last quarter. Institutional investors and hedge funds own 53.55% of the company’s stock.

Analyst Ratings Changes

OBIO has been the subject of several research reports. HC Wainwright reiterated a “buy” rating and issued a $14.00 target price on shares of Orchestra BioMed in a research report on Friday, November 15th. Chardan Capital reaffirmed a “buy” rating and issued a $20.00 price objective on shares of Orchestra BioMed in a report on Wednesday, November 13th.

Orchestra BioMed Company Profile

Orchestra BioMed Holdings, Inc operates as a biomedical innovation company. The company’s flagship product candidates include BackBeat Cardiac Neuromodulation Therapy (CNT) for the treatment of hypertension (HTN); and Virtue Sirolimus AngioInfusion Balloon (SAB) for the treatment of atherosclerotic artery disease.